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News
Urging Congress to Support SAFE Banking for Hemp and CBD Businesses
by Ela E on Nov 01, 2024
In a rapidly evolving market, hemp and CBD businesses face significant hurdles due to limited access to traditional banking services. Despite the legalization of hemp in 2018, financial institutions remain wary, forcing many of these businesses to operate on a precarious cash-only basis. The SAFE Banking Act emerges as a pivotal solution, aiming to dismantle these barriers by allowing banks to offer essential services without fear of federal penalties. This legislation promises to drive industry growth, enhance consumer safety, and spur innovation. Advocacy is crucial; by championing the SAFE Banking Act, individuals can propel the movement towards equitable financial access, fostering a thriving future for the hemp and CBD sectors.
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